Photo: Hemant Mishra/Mint
Photo: Hemant Mishra/Mint

Opening bell | Asian shares mixed; Hero MotoCorp, Maruti Suzuki in focus

In other news, Sun Pharmaceutical Industries Ltd agreed to buy Ocular Technologies for an upfront payment of $40 million

Global equities subdued

US markets closed slightly lower. S&P 500 lost 0.17% to 2,139 points as drop in Apple shares weighed on the benchmark indices. Tracking the cues, Asian markets opened mixed.

Mistry’s warns of massive writedown at Tata Sons

Ousted Tata Sons chairman Cyrus Mistry raised a raft of corporate governance issues in the Tata group, and warned of Rs1.18 trillion writedown, over time, from five unprofitable businesses, reports Mint.

Govt to take up divestment proposals today

The Union cabinet is likely to take up proposals for strategic sales in state-owned companies at its meeting on Thursday, reports Business Standard.

Sun Pharma to buy Ocular Technologies

Sun Pharmaceutical Industries Ltd agreed to buy Ocular Technologies for an upfront payment of $40 million, reports PTI. Ocular is developing Seciera, used for treating dry eye disease.

Hero MotoCorp posts highest-ever profit

Hero MotoCorp Ltd posted a record net profit for the September quarter as normal monsoon rains boosted consumer sentiment and demand in the run-up to the festive season lifted motorcycle sales, reports Mint.

Consumer goods firms report poor Q2 results

Hindustan Unilever Ltd and other packaged consumer goods firms reported subdued consumer demand in the fiscal second quarter even as they said they expect a revival in demand in the second half of the year after a normal monsoon, reports Mint.

Airtel eyes new data plans to take on Reliance Jio

Bharti Airtel Ltd said growth in data subscriptions is likely to slow for another quarter and it plans to offer lucrative contracts to customers to fend off competition from new entrant Reliance Jio Infocomm Ltd, reports Mint.

Infosys promotes six employees to executive vice-president

Infosys Ltd has promoted at least half a dozen executives to the rank of executive vice-president as the company looks to fill gaps in its senior leadership team after a string of exits since April this year, reports Mint.

Tata Steel’s UK sale may be put on hold

According to Business Standard, the sale process for Tata Steel Ltd’s UK speciality steel business has been put on hold following the change of guard at Tata Sons.

Dr Reddy’s to market Gland Pharma’s eight drugs in US

Dr Reddy’s Laboratories Ltd entered into a collaboration with Gland Pharma to market and distribute eight injectable Abbreviated New Drug Applications in the US market, reports PTI.

Maruti Suzuki, TVS Motor earnings today

Castrol India Ltd, Bajaj Finserv Ltd, ABB India Ltd, Escorts Ltd, IOC Ltd, ONGC Ltd, Maruti Suzuki Ltd, MRF Ltd, Tech Mahindra Ltd and TVS Motor Co. Ltd are some of the companies that will release their earnings for the September quarter on Thursday.

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